Contract to help improve accuracy, timeliness and reliability of financial data

RESTON, Va.; August 25, 2011 -- The U.S. Department of the Navy has awarded Accenture Federal Services a three-year, $5.9 million contract to support the Navy’s Financial Improvement Program (FIP). Accenture will work with the Navy to assess and design standard financial business processes with all major commands, a key element of the Navy’s Office of Financial Operations’ plan to achieve and sustain audit readiness.

The program’s objectives are to improve the accuracy, timeliness and reliability of financial information to increase confidence in the Navy’s financial management capabilities. Success is based on the effectiveness of the business processes.

Accenture also will develop metrics and testing procedures to help monitor and manage the adoption of the new processes.

“Accenture is proud to have been selected by the Navy to provide financial management support to help the Navy’s auditability goals,” said Vince Vlasho, who leads Accenture’s Navy and Marine Corps account team. “This is a critical initiative that assists Navy leaders by improving the quality and reliability of financial data.”

This award is part of an indefinite delivery/indefinite quantity (IDIQ) contract to provide financial management services to the Navy. Accenture’s work under the contract also includes developing financial readiness testing procedures, assisting commands to determine audit readiness and preparing for an audit.

Accenture is a global management consulting, technology services and outsourcing company, with more than 223,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US $21.6 billion for the fiscal year ended Aug. 31, 2010. Its home page is www.accenture.com.

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